Canadian National Railway Co. spelled out a challenging picture for the economy as earnings fell short of expectations in the third quarter, partly due to falling demand for consumer goods.
Canadian National Railway Co. dropped the most in eight months after saying that Jim Vena, a former executive favored by shareholder TCI Fund Management Ltd. to run the company, had dropped from consideration to replace CEO Jean-Jacques Ruest.
The embattled CEO of Canadian National Railway announced his retirement on Oct. 19, the same day the company posted financial gains during a third quarter that saw its attempt to merge with Kansas City Southern fall apart.October 19, 2021
Canadian National Railway Co. said it plans to cut spending, streamline management and buy back C$5 billion (about $4 billion) of stock next year as its tries to ward off a shareholder revolt started by TCI Fund Management Ltd.
Canadian National Railway reported an increase in second-quarter net income and revenue, and for the second period in a row company leaders spent significant time detailing for analysts the value of the company’s $33.7 billion merger with Kansas City Southern.July 21, 2021
Canadian National Railway Co.’s proposal to acquire Kansas City Southern will be judged under stricter regulations adopted in 2001, the U.S. regulator said in an expected decision that lays the ground rules for what would be the first major rail merger in more than two decades.
Canadian National Railway appears to be the front-runner to acquire Kansas City Southern Railroad after the KCS Board of Directors on May 13 declared CN has presented a “superior proposal” to an earlier offer from Canadian Pacific to purchase the U.S.-based railway.May 14, 2021
Canadian National on April 26 reported a slight decline in income and revenue for the first quarter, but company executives during a conference call with investors spent as much time discussing the railroad’s move to seize ownership of Kansas City Southern as they did discussing their own railway’s financial results.April 27, 2021